Tds u/s 194C deducted for Professional fees
This query is : Resolved
26 May 2011
In an educational institute...
Professional Fees are paid to Football Coach (Individual) for coaching Rs.50000/-.
Tds @ 1% (194C) is deducted instead of 10% u/s (194J)...
Is it a case of short deduction...???
Accountant is giving the justification that the institution has entered into a Contract/Agreement for the same, hence deducted @ 194C...!!!
Kindly provide me the solution ASAP
Thanks in advance.
Professional Fees are paid to Football Coach (Individual) for coaching Rs.50000/-.
Tds @ 1% (194C) is deducted instead of 10% u/s (194J)...
Is it a case of short deduction...???
Accountant is giving the justification that the institution has entered into a Contract/Agreement for the same, hence deducted @ 194C...!!!
Kindly provide me the solution ASAP
Thanks in advance.
26 May 2011
IT IS NOT PROFESSIONAL SERVICE COVERED BY SECTION 194-I THE ACCOUNATNT IS RIGHT
SEE EXPLANATION TO SECTION 194-I
CA MANOJ GUPTA
JODHPUR
09828510543
SEE EXPLANATION TO SECTION 194-I
CA MANOJ GUPTA
JODHPUR
09828510543
12 June 2011
Mr.Manoj, it will come under professional services, then how 194 I will applicable and which explanation is to be referred ?
12 June 2011
IN THE PLACE OF SECTION 194-I READ SECTION 194J
IT IS NOT PROFESSIONAL SERVICE COVERED BY SECTION 194-J THE ACCOUNATNT IS RIGHT
SEE EXPLANATION TO SECTION 194-J
CA MANOJ GUPTA
JODHPUR
IT IS NOT PROFESSIONAL SERVICE COVERED BY SECTION 194-J THE ACCOUNATNT IS RIGHT
SEE EXPLANATION TO SECTION 194-J
CA MANOJ GUPTA
JODHPUR
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